Bandwidth (BAND) Set to Announce Quarterly Earnings on Tuesday

Bandwidth (NASDAQ:BAND) will release its earnings data before the market opens on Tuesday, May 7th. Analysts expect Bandwidth to post earnings of $0.21 per share for the quarter. Bandwidth has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Bandwidth had a negative net margin of 2.72% and a negative return on equity of 3.10%. The firm had revenue of $165.00 million during the quarter, compared to analyst estimates of $154.17 million. During the same period in the prior year, the company earned $0.04 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts expect Bandwidth to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Bandwidth Stock Down 2.1 %

NASDAQ:BAND opened at $19.26 on Monday. Bandwidth has a one year low of $9.34 and a one year high of $21.68. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.06 and a quick ratio of 2.06. The company has a market cap of $505.96 million, a PE ratio of -18.34 and a beta of 1.44. The firm’s 50 day simple moving average is $18.20 and its 200 day simple moving average is $14.69.

Insider Buying and Selling at Bandwidth

In other news, COO Anthony Bartolo sold 7,798 shares of Bandwidth stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $18.75, for a total value of $146,212.50. Following the completion of the transaction, the chief operating officer now directly owns 76,469 shares of the company’s stock, valued at approximately $1,433,793.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 12,556 shares of company stock valued at $239,567. 6.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BAND shares. Barclays lifted their price target on shares of Bandwidth from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Canaccord Genuity Group upped their price target on Bandwidth from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, KeyCorp increased their price target on Bandwidth from $16.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.50.

About Bandwidth

Bandwidth is a leading enterprise cloud communications company. Companies like Cisco, Google, Microsoft, RingCentral, Uber, and Zoom use Bandwidth’s APIs to easily embed voice, messaging, and emergency services into software and applications. Bandwidth is the first and only CPaaS provider offering a robust selection of communications APIs built around their own IP voice network.